Formula 1 Australian Grand Prix to remain in Melbourne until at least 2037

The Victoria Government has announced that the Australian Grand Prix will be staged in Melbourne until at least 2037 after securing a two year extension to a 10-year deal agreed earlier this year.

After a year-break because of the COVID-19 pandemic, the race returned this year and drew a total crowd of 419,000 - a record for an Australian sporting weekend.

Part of the deal will see Melbourne host the first race of the Formula 1 season for at least four years between 2023 and 2037, with Saudi Arabia to host to the first race of the 2024 Formula 1 season out of respect for Ramadan.

Commenting on the contract extension, Australian Grand Prix Corporation Chief Executive, Andrew Westacott stated “to have secured what is now 15 years of further tenure for the Formula 1 Australian Grand Prix in Melbourne is an outstanding outcome.

“It provides so many benefits to our city, our economy and our exceptional events industry, not to mention the aspiration it provides to young Australians pursuing their dreams in motorsport.”

Originally scheduled to feature a record 24 races next year, the cancellation of the Chinese Grand Prix earlier this month will see Australia feature as part of a 23-race calendar in 2023.

Potential replacements for the Shanghai race are Portugal and Turkey, though the decision will depend on financial factors.

Portugal hosted a Grand Prix at Portimao in 2020 and 2021 while Istanbul Park last hosted F1 in 2021.

The demand for next year’s Melbourne race has already see event organisers predict record attendance numbers after tickets for the main race day sold out in only three-and-a-half hours after they went on sale.